Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.9.20A

Details of other significant benefits--disclosure of fees, charges or expenses

             (1)  For subsection 1017D(5A) of the Act, in providing details of a deduction for fees, charges or expenses in accordance with paragraph 7.9.20(1)(kb):

                     (a)  the amount must be stated in dollars; or

                     (b)  if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars the amount of the deduction may be set out as a description of the fees, charges or expenses as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate); or

                     (c)  if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars, or to set out the amount as a percentage, the product issuer may provide:

                              (i)  a statement informing the holder of the product that amounts for fees, charges or expenses are applicable; and

                             (ii)  if information about the deduction is not provided in the statement mentioned in sub-subparagraph 7.9.20(1)(ka)(ii)(B)--details of the means by which a product holder can gain access to information relating to the amount.

             (2)  A determination under paragraph (1)(b) or (c) must be:

                     (a)  in writing; and

                     (b)  published in the Gazette .



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